RIYADH, 8 May 2004 — The Kingdom Hotel Investment Group (KHI) chaired by Prince Alwaleed ibn Talal has announced an investment into the $100 million Fairmont Hotel in Nile City, Cairo, due to be completed within 2 years. The hotel will form the third and final tower of the city’s most prestigious office and retail development in the recently opened Nile City Complex, and represents the second Cairo hotel investment made by KHI. Fairmont Hotels & Resorts Inc. (FHR) is a public company in which Prince Alwaleed owns 5 percent share.